Oak Ridge Investments LLC Buys 859 Shares of Quanta Services, Inc. (NYSE:PWR)

Oak Ridge Investments LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,534 shares of the construction company’s stock after purchasing an additional 859 shares during the quarter. Oak Ridge Investments LLC’s holdings in Quanta Services were worth $5,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in Quanta Services in the 4th quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new position in Quanta Services in the 1st quarter worth approximately $25,000. Quarry LP bought a new position in Quanta Services in the 4th quarter worth approximately $26,000. Zions Bancorporation National Association UT bought a new position in shares of Quanta Services during the 1st quarter valued at approximately $40,000. Finally, OLD Second National Bank of Aurora bought a new position in shares of Quanta Services during the 1st quarter valued at approximately $42,000. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PWR has been the subject of a number of research reports. Wall Street Zen upgraded Quanta Services from a “hold” rating to a “buy” rating in a research report on Friday, June 27th. Roth Capital reiterated a “buy” rating and set a $450.00 target price (up from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Sanford C. Bernstein downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price for the company. in a research report on Monday, July 28th. B. Riley increased their price target on Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Finally, Argus set a $375.00 price target on Quanta Services in a report on Monday, May 5th. Twelve investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $392.45.

Quanta Services Stock Down 2.9%

Shares of PWR stock opened at $380.25 on Thursday. The stock has a 50 day moving average of $382.12 and a 200 day moving average of $321.29. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap of $56.66 billion, a P/E ratio of 58.86, a P/E/G ratio of 2.33 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. Quanta Services’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the business earned $1.90 earnings per share. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were given a $0.10 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s payout ratio is 6.19%.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.